Atmus Filtration Technologies Inc. (NYSE:ATMU) Short Interest Up 27.9% in March

Atmus Filtration Technologies Inc. (NYSE:ATMU) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 1,970,000 shares, an increase of 27.9% from the February 28th total of 1,540,000 shares. Based on an average daily volume of 769,300 shares, the days-to-cover ratio is presently 2.6 days. Currently, 2.4% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ATMU. JPMorgan Chase & Co. increased their target price on shares of Atmus Filtration Technologies from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Wells Fargo & Company reduced their price objective on Atmus Filtration Technologies from $40.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Finally, Robert W. Baird lowered their price objective on Atmus Filtration Technologies from $46.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.80.

Hedge Funds Weigh In On Atmus Filtration Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Atmus Filtration Technologies by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 713,143 shares of the company’s stock valued at $26,764,000 after acquiring an additional 39,114 shares during the last quarter. Glenmede Trust Co. NA raised its position in Atmus Filtration Technologies by 0.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 41,275 shares of the company’s stock valued at $1,549,000 after purchasing an additional 303 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Atmus Filtration Technologies by 9.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,177 shares of the company’s stock worth $645,000 after purchasing an additional 1,442 shares in the last quarter. Captrust Financial Advisors acquired a new position in Atmus Filtration Technologies in the third quarter worth $335,000. Finally, Atom Investors LP grew its holdings in shares of Atmus Filtration Technologies by 24.3% during the third quarter. Atom Investors LP now owns 103,441 shares of the company’s stock worth $3,882,000 after purchasing an additional 20,201 shares during the last quarter. 32.73% of the stock is currently owned by institutional investors and hedge funds.

Atmus Filtration Technologies Price Performance

Shares of ATMU traded up $0.71 during mid-day trading on Wednesday, reaching $37.92. The company had a trading volume of 547,316 shares, compared to its average volume of 1,099,029. The company has a debt-to-equity ratio of 2.61, a current ratio of 2.11 and a quick ratio of 1.35. The company has a market capitalization of $3.16 billion, a P/E ratio of 17.16, a P/E/G ratio of 3.99 and a beta of 1.83. Atmus Filtration Technologies has a twelve month low of $27.62 and a twelve month high of $45.43. The company’s 50-day moving average is $39.22 and its 200-day moving average is $39.79.

Atmus Filtration Technologies (NYSE:ATMU) last released its quarterly earnings data on Friday, February 21st. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.05. Atmus Filtration Technologies had a return on equity of 120.81% and a net margin of 11.12%. The firm had revenue of $406.70 million during the quarter, compared to analyst estimates of $399.24 million. On average, equities analysts anticipate that Atmus Filtration Technologies will post 2.52 EPS for the current year.

Atmus Filtration Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Tuesday, March 4th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Tuesday, March 4th. Atmus Filtration Technologies’s dividend payout ratio is currently 9.05%.

About Atmus Filtration Technologies

Atmus Filtration Technologies Inc designs, manufactures, and sells filtration products under the Fleetguard brand name in North America, Europe, South America, Asia, Australia, Africa, and internationally. The company offers fuel filters, lube filters, air filters, crankcase ventilation, hydraulic filters, coolants, and fuel additives, as well as other chemicals; and fuel water separators and other filtration systems to original equipment manufacturers, dealers/distributors, and end-users.